Mods DO increase the value of the truck to an extent but not what he is asking for it. Its a shame that the aftermarket stuff is only 6k miles old but the truck still has 60k miles on it and everything is used. tops i would pay is $28k IMHO

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It's all relative.
If the truck is worth 35k to that guy why take anything less?
He won't get rid of it at that price though. for almost 40k you could buy a NEW DC and still have plenty of money to play with. Mods don't increase the book value of the vehicle but you can always make the argument the vehicle is worth more, especially with this rig.

My bet? This thing don't change owners or see the sand for some time.
Damn shame too.

Who the ef would pay $38.5K is for that truck?
You have to be nuts or very wealthy and want a toy.
You just don't get THAT much extra than the value of the truck because you modded it out.
He may get $25K-$27K.